“A tidal wave of fear, uncertainty and doubt (FUD) has been unleashed across the cryptocurrency market after U.S. president Donald Trump’s Friday tariff announcement,” Petr Kozyakov, chief executive crypto payment platform Mercuryo, said in emailed comments.

Cryptocurrency prices took a hit from the prospect of a trade war between the U.S. and its major trading partners, with some well-known digital assets seeing values fall more than 10%.

This was primarily caused due to US President Donald Trump imposing a volley of strict tariffs on several nations at once. The market reacted, and other popular altcoins — including the likes of Ethereum (ETH),